1. Opening above above 490 and sustaining makes ICICI bank breakout on the upside. Go long positionally with SL of 486 for target of 498/506/524.
2. Sustaining below 486 is a short scalping opportunity with SL of 489 for target of 480.
3. Go short only if 472 breaks and sustains with SL of 476 for target of 464/458. This is very unlikely scenario unless something bad news.
Remember ICICI bank is a major constituent of BankNifty . Dont remain short in BankNifty if ICICI bank gives upside breakout.
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